Phillip Jones

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When I came out of the corporate world into real estate I had the opportunity to look at how this industry operates from the view of a shareholder, customer and business person. The fundamental principle of any business is to make a profit and generate positive cash flow. When buyers were buying, and property was selling (in a reasonable time frame) the 'traditional' model of being paid "solely on the success of the transaction" worked. However, before opening my own brokerage in 2005, when times were still very good here in Florida, I thought about the possibility of not having a closing for an extended period. How would I remain profitable? How would I sustain positive cash flow? These are fundamental business questions that must be answered. After all, I cannot go to congress and ask for a bailout (or can I?). I developed, and over time have refined, a business model that allows consumers to choose the services that are important to them. While at the same time, getting paid at time of service from both Buyers & Sellers. I am not a "Flat Fee Only" proponent, nor am I on the side of "Full Service" I offer both solutions and others in-between and follow the customers lead. The response has been tremendous. Customers love this ability to pick and choose what is important to them, sort of like what iTunes has done for the music industry. Why buy the entire CD for $10-$15 when you only want one song that you can buy for $1? if I want more songs later, I can always go back and buy them. The result of this business model is that every month I've been in business I've generated positive cash flow and we had a revenue increase of 27% in 2008. I'm making money, a profit and generating cash flow because of our "choice" model. Bottom line (which is all that should matter to a business person) is that this model works. I’ve been making plans to franchise our company and have trademarked the logo, brand and business process with the USPTO in preparation for franchising. I would be open to providing consulting and/or licensing privileges if anyone is interested. Good selling and thanks for reading this long post:-) Regards, Phillip E. Jones, Broker/Owner Your Choice Real Estate, Inc. The Best Value in Real Estate! 151-18 College Drive Orange Park, FL 32065 Phone: (904) 298-2679 Ext 501 Toll Free (888) 490-0671 Ext 501 Fax: (866) 923-9990 www.ycre.net

Great post and thanks for the plug Michael. With regard to my company (Your Choice Real Estate) and our business model, we were very blessed and fortunate (funny how hard work does that) to have increased revenues (by about 27%) and market share in 2008. The premise of my company is to give customers choices. So we created a menu of services for sellers ranging from Flat Fee MLS @ $399 to Full Services listings @ 6%. We also are finding that sellers appreciate the opportunity to choose the services that meet THEIR needs and preserve as much of their equity as possible. Additionally, it is not required that a seller have a property listed with us for our services to be used. Recently I assisted a FSBO on a deal with a buyer she found on her own and was paid a consulting fee. There are so many different skills and abilities in our toolbox - to limit our income opportunities to 'traditional methods' seems very short sighted, besides the consumers like the flexibility and there is a growing demand for this kind of approach. Our business model also allows agents to earn a living outside the closing table and these days that is very much appreciated (and needed). I really believe that the consumers will force our industry to change from a 40 year old business model. It seems the biggest roadblock at this time is the large base established “traditional” agents/firms that feel that our model is somehow wrong and not appropriate. When they retire and a younger, more tech savvy agent population follows then I think we’ll see more and more companies offering service options like ours. This of course is my hope and all speculation. I’ve been making plans to franchise our company and have trademarked the logo, brand and business process with the USPTO in preparation for franchising. I would be open to providing consulting and/or licensing privileges if anyone is interested. Good selling everyone! Regards, Phillip E. Jones, Broker/Owner Your Choice Real Estate, Inc. The Best Value in Real Estate! 151-18 College Drive Orange Park, FL 32065 Phone: (904) 298-2679 Ext 501 Toll Free (888) 490-0671 Ext 501 Fax: (866) 923-9990 www.ycre.net

It's time to ditch the 900+ MLS's of in the US. If I had Bill Gates fortune, staff and talent at my disposal I could build a better national MLS over a weekend retreat. It's really quite amusing to visit the various MLS software providers booths at the NAR conventions and see how "90's" the software tools are. As far as the MLS board requiring in person attendance for orientations and follow up trainings go, thats just 'tradition' rearing its ugly head. I'm sure that the policies will change, especially if they want to keep collecting dues from out of town brokers. Good selling! Regards, Phillip E. Jones, Broker/Owner Your Choice Real Estate, Inc. The Best Value in Real Estate! 151-18 College Drive Orange Park, FL 32065 Phone: (904) 298-2679 Ext 501 Toll Free (888) 490-0671 Ext 501 Fax: (866) 923-9990 www.ycre.net